Forex Analysis: EUR/GBP Classic Technical Report 12.27.2012

Prices are testing resistance at 0.8215, the 61.8% Fibonacci expansion. A break above that targets the 76.4% level at 0.8275. Near-term support is at 0.8166, the 50% Fib. A move back below that aims for trend line resistance-turned support at 0.8140 and the 38.2% expansion at 0.8117.

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed